Deficits

President Submits FY 2012 Budget; House Republicans Propose FY 2011 Spending Cuts

Posted on Wednesday, March 16, 2011

On February 14, 2011, President Obama released his proposed Budget for FY 2012. The Budget includes cuts aimed at reducing the deficit, but does not project a balanced Budget even as far out as 2020. As is always the case, the President's Budget is the starting point for the work of Congress and will be changed extensively during that process. The attached summary highlights items of particular interest to the real estate industry.

On February 11, 2011, Republican House leadership unveiled the text of their proposed Continuing Resolution for the remainder of FY 2011. H.R. 1 would reduce federal spending by $100 billion. A Continuing Resolution is the mechanism Congress uses to fund the federal government when the annual appropriations process has been delayed or broken down. The attached summary highlights items of particular interest to the real estate industry.
NATIONAL ASSOCIATION OF REALTORS


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